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Banks head lower after cruising through stress tests

Published 06/23/2017, 01:24 PM
© Reuters.  Banks head lower after cruising through stress tests
FITB
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RF
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MS
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PNC
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KEY
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USB
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FAS
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FAZ
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KRE
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KBE
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XLF
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IAT
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FXO
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IYF
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IYG
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SEF
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UYG
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FINU
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RWW
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RSPF
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KRS
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KRU
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VFH
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QABA
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FNCL
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FINZ
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WDRW
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DPST
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JHMF
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BTO
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FNCF
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FAZZ
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FTXO
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  • The good news no doubt priced in prior to last night, the banking sector (KBE -0.7%), (KRE -0.8%) is underperforming after all 34 lenders passed the Fed's stress tests.
  • Having the roughest session today is Morgan Stanley (MS -2%) after it came closet to failing on the supplementary leverage ratio in the Fed's severely adverse scenario. Macquarie is out with a note calling the decline a buying opportunity.
  • Investors can now look forward to next week's release of the CCAR results, at which lenders' capital return plans will or won't be approved (or somewhere in between).
  • U.S. Bancorp (USB -1.1%), Regions Financial (RF -1.3%), KeyCorp (KEY -1.6%), PNC Financial (PNC -1%), Fifth Third (FITB -1.8%)
  • ETFs: XLF, FAS, FAZ, KRE, VFH, UYG, KBE, IYF, FNCL, BTO, IAT, IYG, KBWB, QABA, FXO, SEF, KBWR, RYF, FINU, XLFS, DPST, KRU, FINZ, RWW, WDRW, KRS, FAZZ, JHMF, FTXO, FNCF
  • Now read: Firth Third Bancorp: 2018 Capital Return Should Brush 8%


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